EXPLEO SOLUTIONS LIMITED — Earnings Release 2024

May 23, 2024

SEC/SE/018/24-25 Chennai, May 23, 2024

BSE Limited , Phiroze Jeejeebhoy Towers, P J Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 533121

National Stock Exchange of India Limited , Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 Symbol: EXPLEOSOL

Sub: Submission of Earnings Presentation.

Dear Sir/Madam,

Please find attached the Earnings presentation for the quarter and year ended March 31, 2024.

The above information shall also be made available on the website of the Company i.e., https://investors.expleo.com.

You are requested to take the above on record and oblige.

Thanking you,

Yours faithfully, For Expleo Solutions Limited

BALAJI Digitally signed by BALAJI VISWANATH VISWANATHAN Date: 2024.05.24 AN 00:03:56 +05'30'

Balaji Viswanathan Managing Director & CEO DIN No. 06771242

Encl : As above.

Expleo Solutions Ltd.

6A, Sixth Floor, Prince InfoCity II, No. 283/3 & 283/4, Rajiv Gandhi Salai (OMR) Kandanchavadi, Chennai 600096 • India • T. +91 44 4392 3200

CIN: L64202TN1998PLC066604 • GST No: 33AABCT0976G1ZG

Earnings Presentation Q4 FY24

23[RD] MAY 2024

==> picture [202 x 86] intentionally omitted <==

==> picture [156 x 56] intentionally omitted <==

Safe Harbor

This presentation has been prepared by Expleo Solutions Limited solely to provide information about the Company.

No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of the Company nor any of its respective affiliates, advisers or representatives, shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.

The information contained in this presentation is only current as of its date. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements", including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal and social conditions in India.

Please note that this presentation is based on the publicly available information on Expleo Solutions including but not limited to Company’s website and Annual Reports.

This communication is for general information purposes only, without regard to specific objectives, financial situations and needs of any particular person. Please note that investments in securities are subject to risks including loss of principal amount.

This presentation does not constitute an offer or invitation to purchase or subscribe for any shares in the Company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

==> picture [156 x 56] intentionally omitted <==

© 2020 Expleo Solutions Limited, All Rights Reserved.

2

Agenda

==> picture [102 x 325] intentionally omitted <==

Performance Review

Consolidated Financial Summary

Operating Metrics

Consolidated Quarterly P&L

==> picture [156 x 56] intentionally omitted <==

© 2020 Expleo Solutions Limited, All Rights Reserved.

3

Consolidated Q4FY24 Q-o-Q Review

Revenue:

• Operating Revenue was Rs 2,554 million vs Rs 2,502 million, up by 2.1%

• Total Income was Rs 2,572 million vs Rs 2,615 million, down by 1.6%

Profit:

• EBITDA stood at Rs 398 million vs Rs 385 million in Q3FY24

• EBITDA margin of 15.6% in Q4FY24 as against 15.4% in Q3FY24

• PAT was at Rs 148 million vs Rs 338 million in Q3FY24

• PAT margin of 5.7% in Q4FY24 as against 12.9% in Q3FY24

• Basic EPS at Rs 10.12 in Q4FY24 as against Rs 21.93 in Q3FY24

Cash:

• Net cash position stood at Rs 1,840 million vs Rs 2,117 million for Q3FY24

==> picture [156 x 56] intentionally omitted <==

© 2020 Expleo Solutions Limited, All Rights Reserved.

4

Consolidated Q4FY24 Y-o-Y Review

Revenue:

• Operating Revenue was Rs 2,554 million vs Rs 2,311 million, up by 10.5%

• Total Income was Rs 2,572 million vs Rs 2,349 million, up by 9.5%

Profit:

• EBITDA stood at Rs 398 million vs Rs 431 million in Q4FY23

• EBITDA margin of 15.6% in Q4FY24 as against 18.7% in Q4FY23

• PAT was at Rs 148 million vs Rs 290 million in Q4FY23

• PAT margin of 5.7% in Q4FY24 as against 12.3% in Q4FY23

• Basic EPS at Rs 10.12 in Q4FY24 as against Rs 18.73 in Q4FY23

Cash:

• Net cash position stood at Rs 1,840 million vs Rs 1,557 million for Q4FY23

==> picture [156 x 56] intentionally omitted <==

© 2020 Expleo Solutions Limited, All Rights Reserved.

5

Consolidated FY24 Y-o-Y Review

Revenue:

• Operating Revenue was Rs 9,649 million vs Rs 9,033 million, up by 6.8%

• Total Income was Rs 9,724 million vs Rs 9,194 million, up by 5.8%

Profit:

• EBITDA stood at Rs 1,483 million vs Rs 2,001 million in FY23

• EBITDA margin of 15.4% in FY24 as against 22.2% in FY23

• PAT was at Rs 887 million vs Rs 1,357 million in FY23

• PAT margin of 9.1% in FY24 as against 14.8% in FY23

• Basic EPS at Rs 58.27 in FY24 as against Rs 86.27 in FY23

Cash:

• Net cash position stood at Rs 1,840 million vs Rs 1,557 million for FY23

==> picture [156 x 56] intentionally omitted <==

© 2020 Expleo Solutions Limited, All Rights Reserved.

6

Consolidated Financial Summary

==> picture [952 x 285] intentionally omitted <==

----- Start of picture text -----

31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23
QoQ YoY
Particulars Metrics YoY Growth
Growth Growth
Q4 FY24 Q3 FY24 Q4 FY23 12M FY 24 12M FY 23
Revenue Total Revenue 2,572.2 2,615.1 -1.6% 2,349.4 9.5% 9,723.8 9,194.0 5.8%
(Rs Million) Net Revenue 2,554.1 2,502.3 2.1% 2,310.8 10.5% 9,648.7 9,033.0 6.8%
EBITDA 398.2 384.6 3.5% 431.3 -7.7% 1,483.4 2,001.4 -25.9%
PBT Before Forex Gain / Loss 317.9 313.1 1.5% 380.1 -16.4% 1,190.3 1,753.9 -32.1%
Profit
PBT 261.9 406.8 -35.6% 393.0 -33.4% 1,195.7 1,861.1 -35.7%
(Rs Million)
PAT (Before OCI) 157.0 340.4 -53.9% 290.6 -46.0% 904.4 1,338.9 -32.5%
Total Comprehensive Income 147.6 337.9 -56.3% 289.5 -49.0% 886.8 1,356.5 -34.6%
EBITDA 15.6% 15.4% 18.7% 15.4% 22.2%
PBT Before Forex Gain / Loss 12.4% 12.0% 16.2% 12.2% 19.1%
Margin (%) PBT 10.2% 15.6% 16.7% 12.3% 20.2%
PAT (Before OCI) 6.1% 13.0% 12.4% 9.3% 14.6%
Total Comprehensive Income 5.7% 12.9% 12.3% 9.1% 14.8%
Basic 10.12 21.93 -53.9% 18.73 -46.0% 58.27 86.27 -32.5%
EPS (Rs)
Diluted 10.12 21.93 -53.9% 18.73 -46.0% 58.27 86.27 -32.5%
----- End of picture text -----

==> picture [156 x 56] intentionally omitted <==

7 © 2020 Expleo Solutions Limited, All Rights Reserved.

Consolidated Financial Summary

==> picture [365 x 199] intentionally omitted <==

----- Start of picture text -----

Revenue by Industry
23.8% 26.3% 28.2%
76.2% 73.7% 71.8%
Q4 FY24 Q3 FY24 Q4 FY23
Technology Engineering
----- End of picture text -----

==> picture [365 x 199] intentionally omitted <==

----- Start of picture text -----

Revenue by Region
38.9% 38.6% 41.3%
12.9% 11.2% 11.2%
48.2% 50.2% 47.6%
Q4 FY24 Q3 FY24 Q4 FY23
Europe North America Asia
----- End of picture text -----

==> picture [365 x 199] intentionally omitted <==

----- Start of picture text -----

Top Clients Contribution
48% 48% 46%
32% 29% 34%
Q4 FY24 Q3 FY24 Q4 FY23
Top 5 Top 10
----- End of picture text -----

==> picture [367 x 204] intentionally omitted <==

----- Start of picture text -----

Digital Revenue (INR Mn) & % Share
48.6% 46.7%
44.0%
1,139 1,129
1,009
Q4 FY24 Q3 FY24 Q4 FY23
----- End of picture text -----

==> picture [156 x 56] intentionally omitted <==

8 © 2020 Expleo Solutions Limited, All Rights Reserved.

Consolidated Financial Summary

==> picture [373 x 203] intentionally omitted <==

----- Start of picture text -----

Active Clients
212 211 221
Q4 FY24 Q3 FY24 Q4 FY23
----- End of picture text -----

==> picture [373 x 203] intentionally omitted <==

----- Start of picture text -----

Customer Profile (12m Rolling)
28 30 27 29
15 14
Q4 FY24 Q3 FY24 Q4 FY23
Revenue 0.5 to 1 Mn $ Revenue above 1 Mn $
----- End of picture text -----

==> picture [373 x 203] intentionally omitted <==

----- Start of picture text -----

Debtors Days
108
104
96
Q4 FY24 Q3 FY24 Q4 FY23
----- End of picture text -----

==> picture [373 x 203] intentionally omitted <==

----- Start of picture text -----

Delivery Employee Details
3,924 4,055
3,654
Q4 FY24 Q3 FY24 Q43 FY23
----- End of picture text -----

==> picture [156 x 56] intentionally omitted <==

9 © 2020 Expleo Solutions Limited, All Rights Reserved.

Consolidated Financial Summary

Sr No.	Consolidated Unaudited Financial Statements for the Quarter ended (All figures in INR Million except EPS)	31-Mar-24 31-Dec-23 Q4 FY24 Q3 FY24 QoQ Growth	31-Mar-24 31-Dec-23 Q4 FY24 Q3 FY24 QoQ Growth
1	Income 2,554.1 2,502.3 2.1% 2,310.8 10.5% 9,648.7 9,033.0		6.8%
2	Expenditure
(a)	Employee Cost 1,560.6 1,461.3 6.8% 1,325.2 17.8% 5,748.4 4,798.9		19.8%
(b)	Depreciation 90.8 84.4 7.7% 72.1 26.0% 336.7 278.8		20.7%
(c)	Other Expenditure 595.3 656.3 -9.3% 554.2 7.4% 2,417.0 2,232.7		8.3%
(d)	Total Expenditure 2,246.8 2,202.0 2.0% 1,951.5 15.1% 8,502.0 7,310.4		16.3%
3	Profit from Operations before Other Income, Interest & Exceptional Items (1-2) 307.3 300.3 2.4% 359.2 -14.4% 1,146.7 1,722.5		-33.4%
4	Other Income 18.1 19.1 -5.1% 25.7 -29.5% 69.7 53.9		29.3%
5	Profit before Interest and Exceptional Items(3+4) 325.5 319.4 1.9% 384.9 -15.4% 1,216.4 1,776.5		-31.5%
6	Finance Cost 7.6 6.3 4.8 26.1 22.6
7	Exchange Gain/(loss) (56.0) 93.7 12.9 5.4 107.2
8	Profit after Interest but before Exceptional Items(5-6+7) 261.9 406.8 -35.6% 393.0 -33.4% 1,195.7 1,861.1		-35.7%
9	Exceptional Items
10	Profit(+)/ Loss(-) from Ordinary Activities before Tax(8+9) 261.9 406.8 -35.6% 393.0 -33.4% 1,195.7 1,861.1		-35.7%
11	Tax Expenses 104.9 66.4 57.9% 102.4 2.5% 291.4 522.2		-44.2%
12	Net Profit(+)/ Loss(-) from Ordinary Activities after Tax(10-11) 157.0 340.4 -53.9% 290.6 -46.0% 904.4 1,338.9		-32.5%
13	ExtraordinaryItems(net of tax expense Rs.)
14	Net Profit(+)/ Loss(-) for the Period(12-13) 157.0 340.4 -53.9% 290.6 -46.0% 904.4 1,338.9		-32.5%
15	Other Comprehensive Income (9.4) (2.5) (1.1) (17.6) 17.7
16	Total Comprehensive Income for theperiod(14+15) 147.6 337.9 -56.3% 289.5 -49.0% 886.8 1,356.5		-34.6%
17	Earnings Per Share(EPS)in Rs.
(a)	Basic and diluted EPS before Extraordinaryitems(not annualized) 10.12 21.93 -53.9% 18.73 -46.0% 58.27 86.27		-32.5%
(b)	Basic and diluted EPS after Extraordinaryitems(not annualized) 10.12 21.93 -53.9% 18.73 -46.0% 58.27 86.27		-32.5%

==> picture [156 x 56] intentionally omitted <==

10 © 2020 Expleo Solutions Limited, All Rights Reserved.

Our values

Courage

Excellence

Collaboration

Respect

Accountability

==> picture [112 x 37] intentionally omitted <==

11 © 2020 Expleo Solutions Limited, All Rights Reserved.

==> picture [215 x 77] intentionally omitted <==

==> picture [258 x 38] intentionally omitted <==

Get Social with @ExpleoGroup

Periakaruppan Palaniappan

Expleo Solutions Limited investor.expleosol@expleogroup.com

Asha Gupta

Ernst & Young LLP Asha.Gupta@in.ey.com

expleogroup.com